Today on the Weekly Dose I review workforce planning technology, Foresight.Foresight is billed as the world’s first Recruitment Forecasting technology.It creates an accurate forecast of hiring need across a specified tactical time frame.
About once a year I’m completely shocked and surprised by a technology and this is the case with Foresight. I told the Foresight team, and I’ll tell you, this is the most impressive piece of HR Technology I’ve seen in a long time!
Foresight was built by some corporate talent acquisition professionals that got sick and tired of putting out fires. What we know if TA has very little control over workforce forecasting it comes from hiring managers, CFOs, CEOs, etc. So, they built a technology that kept that in mind, and got them out of fighting the recruiting fires of ‘we need to hire 100 engineers in thirty days’, ‘oh, wait, we need to layoff 300 now instead’, ‘check that, hire 1,000 total across all functions’!
What I like about Foresight:
– The platform sends out an internal email to each hiring manager from the executive explaining what needs to take place, and takes them into the systems and walks them through a very short forecasting process (15 min.) set of questions (executive can also speak to the team via video as well).
– The process takes them through the main areas of: headcount planning, known active recruiting, potential growth needs, and interns/apprenticeships. Calculates everything in a roll-up, and gives the organization a predicted recruitment path for the next twelve months.
– Hiring managers have to follow the system, they can’t skip steps or change. They can leave comments to explain, but they have to put in something.
– Executives get updates on hiring managers not completely their forecast.
– The platform works off live, real-time data, as a position gets filled, everything is updated, someone leaves, another update. Real current recruitment needs are at your fingertips, across your entire organization. Update forecasts can be sent out monthly, quarterly, up to the organization.
– After hiring manager puts in the forecast, there is an approval roll-up that takes place, so when it all comes back to TA, the department is ready to go with full approval.
Basically, anyone in the organization, from TA leader to hiring managers, to executives, can get a list of every single role being recruited for and when that role needs to be filled.
I’m in love with this from the simplicity of how it works to how if used consistently it becomes a cultural driver around your talent strategy. Everyone is onboard and in the know of what’s going on. Clearly, this is an enterprise level technology. You probably don’t need forecasting tech if you’re hiring 100 employees a year, but 500-100,000 hires, across multiple locations and countries, you need this.
Well worth a demo if you find yourself in a very typical TA role of constantly starting and stopping, and not really having a great idea around what the organization needs to hire on an ongoing basis. Bad TA happens when you can’t get out of firefighting mode. Great TA happens when you have a plan and can go make real long-term strategies to attract great talent.
The Weekly Dose – is a weekly series here at The Project to educate and inform everyone who stops by on a daily/weekly basis on some great recruiting and sourcing technologies that are on the market. None of the companies who I highlight are paying me for this promotion. There are so many really cool things going on in the tech space and I wanted to educate myself and share what I find. If you want to be on The Weekly Dose – just send me a note – firstname.lastname@example.org